Pros and Cons of Selling Your House via Rent To Own in Fort Walton Beach

Are you thinking about selling your house in Fort Walton Beach? In addition to a traditional listing or a direct sale, you can sell your house via a rent-to-own agreement. For many people, it is proving to be the solution they have been looking for when it comes to selling their Fort Walton Beach homes! Learn more about the pros and cons of selling your house via rent to own in our latest blog!

Have you ever considered using a rent to own agreement structure to sell your Fort Walton Beach house? It can be an excellent way to sell if you do not the need the money from the sale upfront in its entirety. Here are a few pros and cons to consider before selling via rent to own.

Pros:

Get The Price You Want

When you choose a rent to own agreement as a way to sell your Fort Walton Beach house, you will receive a good size deposit up front. In addition, the price of the monthly rent will be higher than with a traditional rental. You will be able to decide on the price you want and set the terms accordingly. The monthly rent will go towards the price of the house, and once the rental term is complete, the tenant has the option to buy at a predetermined price. No matter what the market does, you are able to secure the price of the house upfront.

More Potential Buyers

By setting up the sale via a rent to own structure, many more people will have the option to buy. There are tons of great people out there who want to buy right now but may not qualify for a traditional loan at the present moment. By allowing them to rent to own with an option to buy at the end of the rental term, you are letting them have some time to get their credit and finances in order so they can qualify for a loan to pay you the balance of the sale price.

Steady Income Stream

When you own a rent to own property, you are in essence, creating for yourself a monthly income stream, (well as long as the agreement is in place.) You will have highly vested tenants who will pay you each and every month to live in the home.

Good Tenants

If someone plans on eventually buying a home, they aren’t going to do anything to damage it. In fact, the opposite. Your tenants will want to take care of the house as if it were their own. They will also make sure to pay on time as defaulting on the rental terms can nullify the contract.

You Keep The Money No Matter What Happens

If at the end of the rental term, the potential buyer opts against a purchase, any monies paid will stay with you. You keep the amounts paid in rent as well as the initial deposit.

Cons:

It Will Take Some Time To Get Paid

You won’t likely get the full balance of the home for a couple years. If you don’t need the money for another purchase, this isn’t much of an issue.

No Guaranteed Sale

Your potential buyer could decline the option to buy at the end of the rental term. They might not be able to afford it, or they may have found a property better suited to their needs. This isn’t necessarily bad. If your buyer should fall through, you get to hang on to the deposit and raised rent that was collected.

Miss Out If Prices Surge

Because sale prices are locked in when the agreement is made, if the market goes up, you could miss out on extra profits. However, this goes both ways. If the market should drop, the agreed upon sale price will remain the same.

Do you want to sell your Fort Walton Beach house? Have you considered all of the options available to you? Send us a message today with your selling goals or give our team a call now! (850) 888-0371

Testimonials

Glast Heim LLC

Sean:
so how did you hear about us?

Mrs. K:
Umm, actually I got a card in the mail, and we had been thinking about possibly trying to sell the house, because my dad left it to us, and you know the cost of the upkeep, and my husband was getting ready to retire. So I just thought… well I’ll just check it out. Well first I did check on the website, and I did read reviews from Better Business Bureau, and there were a lot of really good reviews. So I called., and Matt came out first and… I mean it’s been a really quick painless process.

Sean:
Good and that’s one thing we want to get over to other people is that we are real when they get a card.

Mrs. K:
Oh yeah its real. Because I’ve had people that’s like, “Oh you better be careful. There’s a lot of scam artists.” And I said Nope. I’ve already checked it out. I’ve been around. I’ve worked at enough banks and stuff like that, that I’ve heard about horror stories.

Sean:
Yes mam. Would you say the communication between the start to finish has been good?

Mrs. K:
Oh it’s been great. You’ve been great. I mean you even tried to find me a property to go to, and yeah everything’s been great.

Sean:
Good would you recommend us to other people?

Mrs. K:
oh yeah.

Sean:
What about in the future if something ever happens again where you need to sell, would you call us up user services again?

Mrs. K:
Oh, yes. Yes I would for sure, yeah.

Sean:
Well, I definitely thank you for trusting us with everything, and we hope everything with your retirement goes well, and anything in the future you need you have my card you can call me anytime.

Mrs. K:
I got your number in my phone, so I’m keeping them.

Sean:
You have my office and my personal. So yes, anything you need just let us know.

Mrs. K:
Yep. I will. Thank you very much Sean. I appreciate it.

Mrs. K

Glast Heim LLC

Arianne:
Hi Ms. Jojo, how are you today?

Ms. Jojo:
Hi Arianne, I’m good, how are you?

Arianne:
Good.

I just wanted to ask how you felt the process of selling your house to us went?

Ms. Jojo:
I was actually very very impressed.
I had been receiving the postcards from your company over a period of time, and I put them aside, but I was interested and wasn’t sure, and one day I decided, “Let me go ahead and contact this company and see if it would work for me,” which it most certainly did.

Arianne:
Okay, and throughout the process… I know a lot of the times people think, you know, is it a scam, or what is this little postcard?

Ms. Jojo:
I was actually very very impressed with the whole process.
Everything that was arranged or sorted was fulfilled, right from the first visit to the house to look at it, right up to right now at the closing.

So definitely not a scam and definitely worth looking into.
It suited me to do it this way.

There were no hassles, no worries, and I enjoyed the whole process.

Arianne:
Aww, well thank you very much, Ms. Jojo.
We really appreciated, you know, you trusting us with this, and I know it can be bittersweet but thank you so much.

Ms. Jojo:
Thank you!

Ms Jojo

Glast Heim LLC

We needed to sell our house rather quickly. Our house has a lot of issues.

The gentleman that came and looked at our home was very gracious. He didn’t make me feel bad about the condition our house was in. And it wasn’t horrible, but it’s got issues, and it wasn’t going to be able to go on the market and sell.

So Glass Homes/[Glast Heim] came in and gave us a good offer and were very helpful all the way through the whole process and this has been quick and painless, and now we’re on our way to Arkansas to another home, and I couldn’t be happier.

Every phone call I made to them, the questions were either answered, or they called back immediately, and it was always somebody I could talk to. Never had a problem. Never had anybody say “Oh, I’ll get back to you.” Nope. The question was either answered, I would be put on hold if need be, and one time I was transferred. And that’s the extent of it. It was a very great experience.

Karen and Steve W.

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